Here’s a little flash sales e-commerce history for you. Before there was Rue La La or One Kings Lane or even Gilt Groupe, there was Vente-Privee. And it’s headed for our shores.
The French startup just announced plans to launch a website in the U.S. by mid-November in partnership with American Express, reports Reuters. Of course the company, which was founded in 2001, will be entering a very different market than the one it started in, with both Amazon muscling its way into daily deals and the proliferation of discount fashion plays.
But that doesn’t seem to have dampened Vente-Privee’s ambitions. With American Express’s help, it aims to reach $500 million in sales in the next five years. Both Vente and Amex agreed to invest $15-20 million a piece in the joint venture. Read More